NZ interest rates rise yet again!
May 2nd 2007, 1:22 pm
#1
Forum Regular
Thread Starter
Joined: Jan 2007
Posts: 206
NZ interest rates rise yet again!
Wow...another NZ interest rate rise, I seriously wonder how people afford to buy houses with the current mortgage rates in NZ, especially when wages are so low? NZ currently has the most expensive mortgage rates in the civilised world.
The worring thing is imagine that you buy the house (large shed) of your dreams with a whopping mortgage. Then......the housing market readjusts and suddenly your house is worth $150,000 less than you paid for it. THEN you fall out with your boss and loose you job.
You finally realise that it was all a big mistake and decide to return to the UK, BUT you have no money to buy tickets, ship goods or repatriate your pets. You have a house that is worth less than you paid for it and you can't sell it anyway. The Exchange rate has dropped to $2.20/£1.00, so even if you manage to sell the cold damp house you worked so hard for you won't have enough to get back on to the UK ladder (if you can afford the fare home?) even if UK property decreased in value by 40%.
What a potential nightmare eh?
Still when you live in such a beautiful country you can always just go for a walk along the beach, take in the fabulous views etc etc etc
Burt
The worring thing is imagine that you buy the house (large shed) of your dreams with a whopping mortgage. Then......the housing market readjusts and suddenly your house is worth $150,000 less than you paid for it. THEN you fall out with your boss and loose you job.
You finally realise that it was all a big mistake and decide to return to the UK, BUT you have no money to buy tickets, ship goods or repatriate your pets. You have a house that is worth less than you paid for it and you can't sell it anyway. The Exchange rate has dropped to $2.20/£1.00, so even if you manage to sell the cold damp house you worked so hard for you won't have enough to get back on to the UK ladder (if you can afford the fare home?) even if UK property decreased in value by 40%.
What a potential nightmare eh?
Still when you live in such a beautiful country you can always just go for a walk along the beach, take in the fabulous views etc etc etc
Burt
May 2nd 2007, 1:26 pm
#2
Joined: Apr 2007
Posts: 1,454
Re: NZ interest rates rise yet again!
And the lowest GDP.....life is full of mysteries, eh Bert?
May 2nd 2007, 1:27 pm
#3
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Joined: Feb 2007
Posts: 1,109
Re: NZ interest rates rise yet again!
Wow...another NZ interest rate rise, I seriously wonder how people afford to buy houses with the current mortgage rates in NZ, especially when wages are so low? NZ currently has the most expensive mortgage rates in the civilised world.
The worring thing is imagine that you buy the house (large shed) of your dreams with a whopping mortgage. Then......the housing market readjusts and suddenly your house is worth $150,000 less than you paid for it. THEN you fall out with your boss and loose you job.
You finally realise that it was all a big mistake and decide to return to the UK, BUT you have no money to buy tickets, ship goods or repatriate your pets. You have a house that is worth less than you paid for it and you can't sell it anyway. The Exchange rate has dropped to $2.20/£1.00, so even if you manage to sell the cold damp house you worked so hard for you won't have enough to get back on to the UK ladder (if you can afford the fare home?) even if UK property decreased in value by 40%.
What a potential nightmare eh?
Still when you live in such a beautiful country you can always just go for a walk along the beach, take in the fabulous views etc etc etc
Burt
The worring thing is imagine that you buy the house (large shed) of your dreams with a whopping mortgage. Then......the housing market readjusts and suddenly your house is worth $150,000 less than you paid for it. THEN you fall out with your boss and loose you job.
You finally realise that it was all a big mistake and decide to return to the UK, BUT you have no money to buy tickets, ship goods or repatriate your pets. You have a house that is worth less than you paid for it and you can't sell it anyway. The Exchange rate has dropped to $2.20/£1.00, so even if you manage to sell the cold damp house you worked so hard for you won't have enough to get back on to the UK ladder (if you can afford the fare home?) even if UK property decreased in value by 40%.
What a potential nightmare eh?
Still when you live in such a beautiful country you can always just go for a walk along the beach, take in the fabulous views etc etc etc
Burt
May 2nd 2007, 1:33 pm
#5
Joined: Nov 2006
Posts: 2,813
Re: NZ interest rates rise yet again!
Jeez, Burt. You do enjoy stirring up the shit, don't you. Well, stir away, mate.
May 2nd 2007, 1:34 pm
#6
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Joined: Nov 2006
Location: Whitby Wellington
Posts: 2,440
Re: NZ interest rates rise yet again!
Wow...another NZ interest rate rise, I seriously wonder how people afford to buy houses with the current mortgage rates in NZ, especially when wages are so low? NZ currently has the most expensive mortgage rates in the civilised world.
The worring thing is imagine that you buy the house (large shed) of your dreams with a whopping mortgage. Then......the housing market readjusts and suddenly your house is worth $150,000 less than you paid for it. THEN you fall out with your boss and loose you job.
You finally realise that it was all a big mistake and decide to return to the UK, BUT you have no money to buy tickets, ship goods or repatriate your pets. You have a house that is worth less than you paid for it and you can't sell it anyway. The Exchange rate has dropped to $2.20/£1.00, so even if you manage to sell the cold damp house you worked so hard for you won't have enough to get back on to the UK ladder (if you can afford the fare home?) even if UK property decreased in value by 40%.
What a potential nightmare eh?
Still when you live in such a beautiful country you can always just go for a walk along the beach, take in the fabulous views etc etc etc
Burt
The worring thing is imagine that you buy the house (large shed) of your dreams with a whopping mortgage. Then......the housing market readjusts and suddenly your house is worth $150,000 less than you paid for it. THEN you fall out with your boss and loose you job.
You finally realise that it was all a big mistake and decide to return to the UK, BUT you have no money to buy tickets, ship goods or repatriate your pets. You have a house that is worth less than you paid for it and you can't sell it anyway. The Exchange rate has dropped to $2.20/£1.00, so even if you manage to sell the cold damp house you worked so hard for you won't have enough to get back on to the UK ladder (if you can afford the fare home?) even if UK property decreased in value by 40%.
What a potential nightmare eh?
Still when you live in such a beautiful country you can always just go for a walk along the beach, take in the fabulous views etc etc etc
Burt
May 2nd 2007, 1:39 pm
#7
Forum Regular
Thread Starter
Joined: Jan 2007
Posts: 206
Re: NZ interest rates rise yet again!
I knew 3 English families who wanted to return to the UK but were caught in the NZ poverty trap. If the above did happen then many more would be affected.
Burt
May 2nd 2007, 2:08 pm
#8
Joined: Nov 2006
Posts: 2,813
Re: NZ interest rates rise yet again!
I just think that it is a scenario that hard working families who are preparing to move to the underside of the world should think about.
I knew 3 English families who wanted to return to the UK but were caught in the NZ poverty trap. If the above did happen then many more would be affected.
Burt
I knew 3 English families who wanted to return to the UK but were caught in the NZ poverty trap. If the above did happen then many more would be affected.
Burt
May 2nd 2007, 2:11 pm
#9
Account Closed
Joined: Oct 2006
Posts: 1,585
Re: NZ interest rates rise yet again!
oh Burt! Burt Burt Burt Burt Burt
(That is a compliment)
(That is a compliment)
May 2nd 2007, 7:53 pm
#10
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Joined: Mar 2007
Location: Nelson Bays/Abel Tasman NZ- my Utopia
Posts: 632
Re: NZ interest rates rise yet again!
Is that short for Albert?
I had a dog called Albert- He was a lovely, happy, lively character and loved long walks on the beautiful uncrowded beaches.
Reading your posts- possessions, money etc etc are all.
I started out with nothing and I still have most of it left.
Hope you find somewhere on Earth to be happy- otherwise get Scottie to beam you up!
May 2nd 2007, 8:00 pm
#11
duckfoot
Joined: Feb 2007
Location: Auckland - Timaru !!
Posts: 244
Re: NZ interest rates rise yet again!
Hi Burt
Is that short for Albert?
I had a dog called Albert- He was a lovely, happy, lively character and loved long walks on the beautiful uncrowded beaches.
Reading your posts- possessions, money etc etc are all.
I started out with nothing and I still have most of it left.
Hope you find somewhere on Earth to be happy- otherwise get Scottie to beam you up!
Is that short for Albert?
I had a dog called Albert- He was a lovely, happy, lively character and loved long walks on the beautiful uncrowded beaches.
Reading your posts- possessions, money etc etc are all.
I started out with nothing and I still have most of it left.
Hope you find somewhere on Earth to be happy- otherwise get Scottie to beam you up!
have you perchance been drinking girlie ? 
May 2nd 2007, 8:03 pm
#12
Account Closed
Joined: Oct 2006
Posts: 1,585
Re: NZ interest rates rise yet again!
Hi Burt
Is that short for Albert?
I had a dog called Albert- He was a lovely, happy, lively character and loved long walks on the beautiful uncrowded beaches.
Reading your posts- possessions, money etc etc are all.
I started out with nothing and I still have most of it left.
Hope you find somewhere on Earth to be happy- otherwise get Scottie to beam you up!
Is that short for Albert?
I had a dog called Albert- He was a lovely, happy, lively character and loved long walks on the beautiful uncrowded beaches.
Reading your posts- possessions, money etc etc are all.
I started out with nothing and I still have most of it left.
Hope you find somewhere on Earth to be happy- otherwise get Scottie to beam you up!
May 2nd 2007, 9:35 pm
#13
BE Enthusiast
Joined: Mar 2007
Location: Nelson Bays/Abel Tasman NZ- my Utopia
Posts: 632
Re: NZ interest rates rise yet again!
Hi Ceri
just a bit!
So totally p.....d off with all the hoops we have to jump through-(difficult sober let alone on second bottle) Need lots of positive Karma from all. Not the negative vibes. I know it's not all roses( been going out there for 3-4 months stays in rentals for last 5 years.) I know there is no such thing as a personal allowance, Know my pension will be frozen,know I'll have to pay alot for my prescriptions, know I can't get medical attention in NZ and will have to pay to go to Oz, know financially it will be worse because I won't have the spending power.I know there are problems with housing but they're not unrectifiable. I remember 'Jack Frost"' on bedroom windows! .....................
.................................................. ...............deleted my irate thoughts.
But despite all of this I'm happy to pay tax on my first$ earned- I'm happy to help NZ grow and prosper because NZ has so much to offer- a better way of life. I apologise to no-one for wanting to live in NZ.
just a bit!
So totally p.....d off with all the hoops we have to jump through-(difficult sober let alone on second bottle) Need lots of positive Karma from all. Not the negative vibes. I know it's not all roses( been going out there for 3-4 months stays in rentals for last 5 years.) I know there is no such thing as a personal allowance, Know my pension will be frozen,know I'll have to pay alot for my prescriptions, know I can't get medical attention in NZ and will have to pay to go to Oz, know financially it will be worse because I won't have the spending power.I know there are problems with housing but they're not unrectifiable. I remember 'Jack Frost"' on bedroom windows! .....................
.................................................. ...............deleted my irate thoughts.
But despite all of this I'm happy to pay tax on my first$ earned- I'm happy to help NZ grow and prosper because NZ has so much to offer- a better way of life. I apologise to no-one for wanting to live in NZ.
May 2nd 2007, 9:45 pm
#14
BE Forum Addict
Joined: Mar 2006
Location: North Shore
Posts: 1,417
Re: NZ interest rates rise yet again!
Hi Ceri
just a bit!
So totally p.....d off with all the hoops we have to jump through-(difficult sober let alone on second bottle) Need lots of positive Karma from all. Not the negative vibes. I know it's not all roses( been going out there for 3-4 months stays in rentals for last 5 years.) I know there is no such thing as a personal allowance, Know my pension will be frozen,know I'll have to pay alot for my prescriptions, know I can't get medical attention in NZ and will have to pay to go to Oz, know financially it will be worse because I won't have the spending power.I know there are problems with housing but they're not unrectifiable. I remember 'Jack Frost"' on bedroom windows! .....................
.................................................. ...............deleted my irate thoughts.
But despite all of this I'm happy to pay tax on my first$ earned- I'm happy to help NZ grow and prosper because NZ has so much to offer- a better way of life. I apologise to no-one for wanting to live in NZ.
just a bit!
So totally p.....d off with all the hoops we have to jump through-(difficult sober let alone on second bottle) Need lots of positive Karma from all. Not the negative vibes. I know it's not all roses( been going out there for 3-4 months stays in rentals for last 5 years.) I know there is no such thing as a personal allowance, Know my pension will be frozen,know I'll have to pay alot for my prescriptions, know I can't get medical attention in NZ and will have to pay to go to Oz, know financially it will be worse because I won't have the spending power.I know there are problems with housing but they're not unrectifiable. I remember 'Jack Frost"' on bedroom windows! .....................
.................................................. ...............deleted my irate thoughts.
But despite all of this I'm happy to pay tax on my first$ earned- I'm happy to help NZ grow and prosper because NZ has so much to offer- a better way of life. I apologise to no-one for wanting to live in NZ.
Its getting stupid on this site, I hope they get bored soon and take their bitter rants elsewhere.
May 2nd 2007, 9:47 pm
#15
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Joined: Mar 2006
Location: North Shore
Posts: 1,417
Re: NZ interest rates rise yet again!